WeRide (NASDAQ:WRD) Coverage Initiated at BNP Paribas Exane

Equities research analysts at BNP Paribas Exane assumed coverage on shares of WeRide (NASDAQ:WRD) in a research report issued on Thursday, MarketBeat reports. The brokerage set an “outperform” rating and a $11.00 price target on the stock. BNP Paribas Exane’s target price suggests a potential upside of 58.27% from the stock’s current price.

A number of other research analysts have also weighed in on the stock. Bank of America initiated coverage on shares of WeRide in a research note on Monday, December 1st. They issued a “buy” rating and a $12.00 target price on the stock. Zacks Research upgraded WeRide from a “hold” rating to a “strong-buy” rating in a research report on Monday, March 23rd. CLSA assumed coverage on WeRide in a research note on Monday, January 5th. They set an “outperform” rating and a $13.00 price objective on the stock. Citigroup reaffirmed a “buy” rating on shares of WeRide in a research note on Monday, January 19th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of WeRide in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.70.

WeRide Stock Down 9.0%

Shares of NASDAQ WRD opened at $6.95 on Thursday. The firm has a 50-day simple moving average of $7.40 and a 200-day simple moving average of $8.76. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of -9.27 and a beta of 4.36. WeRide has a 52 week low of $6.01 and a 52 week high of $15.60.

WeRide (NASDAQ:WRD) last posted its quarterly earnings results on Monday, March 23rd. The company reported ($0.24) earnings per share for the quarter. WeRide had a negative return on equity of 24.38% and a negative net margin of 240.54%.The business had revenue of $44.88 million for the quarter. As a group, equities research analysts expect that WeRide will post -0.68 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. China UAE Investment Cooperation Fund L.P. purchased a new stake in WeRide in the fourth quarter valued at $67,443,000. FengHe Fund Management Pte. Ltd. grew its holdings in shares of WeRide by 198.5% during the 4th quarter. FengHe Fund Management Pte. Ltd. now owns 4,175,181 shares of the company’s stock worth $36,241,000 after purchasing an additional 2,776,381 shares during the period. Greenwoods Asset Management Hong Kong Ltd. purchased a new stake in WeRide in the 3rd quarter valued at about $26,574,000. Mercer Global Advisors Inc. ADV purchased a new stake in WeRide in the 3rd quarter valued at about $25,931,000. Finally, Marshall Wace LLP lifted its position in WeRide by 4,869.5% in the third quarter. Marshall Wace LLP now owns 2,055,370 shares of the company’s stock valued at $20,348,000 after buying an additional 2,014,010 shares during the last quarter.

About WeRide

WeRide Inc (NASDAQ: WRD) is a developer of autonomous driving technology focused on providing Level 4 (L4) self-driving solutions for passenger mobility and logistics. The company’s full-stack platform integrates sensors, computing hardware, software algorithms and vehicle controls to enable driverless taxis, shuttles and goods delivery vehicles. By combining perception, planning and controls in a turnkey system, WeRide aims to accelerate the commercialization of robotaxi services and autonomous fleet operations.

Founded in 2017 and headquartered in Guangzhou, China, WeRide maintains research and development centers in Silicon Valley and China.